Kehoe v. Commissioner of Internal Revenue

The petitioner, the taxpayer, in March, 1926, filed a Federal income tax return for himself and his wife for the calendar year 1925. Upon this return he reported a total income of $27,865.61 and net income of $19,198.33 which he stated had been received by him from real estate operations, dividends, interest and “election bets”. Upon this return he reported a tax due to the United States in the sum of $194.56. This sum was paid by him. It should be pointed out that upon the return referred to the petitioner did not state the nature of his business, the line of the return upon which this…